Angola’s Sonangol announces new oil strike

24 August 2007

Luanda, Angola, 24 Aug – Angolan state oil company Sociedade Nacional de Combustíveis de Angola (Sonangol) said Thursday in Luanda it had struck more oil in the Gimbôa field, in the deep waters of bloc 4/05.

The Gimbôa field is located some 85 kilometers off the Angolan coast, in water with a depth of 700 meters.

In a statement Sonangol said that a test well located in the western area of teh bloc, with a water depth of 458 meters produced 5,346 barrels per day in its test.

The Gimbôa field was discovered in 2004 and is currently in the development stage, with production expected to begin in the third quarter of 2008.

Sonangol is the bloc’s operator with a 50 percent stake, and its partners are Norsk Hydro Quatro (20 percent), Somoil (15 percent) and ACR (15 percent). (macauhub)